A series of unknowns loom over commercial real estate, with uncertainty sidelining many investors and motivating a small but growing number to cut their losses and bet on American farmland, an asset that remains in high demand even as prices soar.

Farmland is known for its historically strong returns, low volatility and ability to act as an inflation hedge. …

A handful of real estate investment trusts are providing wider access to farmland. Denver-based Farmland Partners, a REIT that not only owns and manages farmland but also makes loans to farmers, has an equity market cap of about $600M.

Executive Chairman Paul Pittman grew up in a farming family and began buying agricultural land as an investor in the mid-1990s.

“Farmland never really has a bad year,” he said. “I hate to sound trite, but did you eat today? Do you plan on eating tomorrow? What we are normally playing for in agriculture is the insatiable demand for food that grows with population and grows with worldwide wealth.”

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